Venture capital firm Andreessen Horowitz leads a $12.9 million funding round for ZAR, a fintech startup making stablecoins accessible in Pakistan. Over 100 million adults in Pakistan are unbanked, prompting ZAR to distribute stablecoins through local stores, phone kiosks, and money agents. Users can exchange cash for stablecoins stored in a mobile wallet linked to a Visa card. ZAR was co-founded by Sebastian Scholl and Brandon Timinsky, who previously sold their mobile wallet startup SadaPay. The company has raised $20 million and plans to expand to African markets in 2026. Pakistan is moving towards regulating virtual assets, recently launching the Pakistan Virtual Assets Regulatory Authority (PVARA). The country also opened its doors to international crypto businesses, inviting leading exchanges and VASPs to apply for licenses. Pakistan has surged to third place in the 2025 Global Crypto Adoption Index, becoming one of the fastest-growing crypto markets globally.

Read more at Cointelegraph: A16z Leads $12.9M Round for ZAR’s Stablecoin Push in Pakistan